KYC/KYB limits
Read about the KYC/KYB limits applicable to users under Mangopay’s Payment Services (EEA) and Electronic Money Services (EEA and UK)
As a regulated , Mangopay is required by law to conduct due diligence on users to whom it provides payment or e-money services. As part of these obligations, Mangopay applies limits to payment functionalities that users can access based on their status.
Contributing factors
User attributes
There are two attributes of users in the Mangopay product that determine their limitations:
UserCategory
– Whether the user is aPAYER
or anOWNER
, as explained in the articles on these categories and the restrictions applied.KYCLevel
– Whether the user has completed the necessary identity verification checks to be KYC/KYB verified (indicated by the valueREGULAR
) or not (indicated by the valueLIGHT
). More information about managing these processes for users is available in the KYC/KYB verification section.
A user must be an OWNER
before they can request verification and undergo the KYC/KYB verification process. This means that all PAYER
users have the KYCLevel
of LIGHT
.
This page focuses on the KYC/KYB limits in place once the user is an OWNER
based on whether or not they are KYC/KYB verified. The category restrictions article focuses on finer product restrictions relating to PAYER
and OWNER
categories.
Platform’s contractual status
The limits that are applicable to your users differ depending on:
- Where your platform is registered (EEA or UK)
- Which Mangopay entity your platform contracts with (Mangopay S.A. or Mangopay UK Ltd.)
- Which kind of Mangopay services you use (Payment Services (PS) or Electronic Money Services (EMS))
These factors are all defined at the start of your partnership with Mangopay by your platform’s contractual agreement.
Mangopay offers one of two kinds of services to platforms:
- Payment Services (PS) as Mangopay S.A. to platforms registered in the EEA
- Electronic Money Services (E-Money Services, EMS):
- As Mangopay S.A. to platforms registered in the EEA
- As Mangopay U.K. Ltd. to platforms registered in the UK
Mangopay S.A. is an EMI under Luxembourg law, authorized by the CSSF. Mangopay U.K. Ltd. is an EMI under UK law, authorized by the FCA. Read more about Mangopay’s EMI status.
Overview of limits
The following table gives an overview of the possible contractual situations of your platform and the limits that apply in each case if the user’s KYCLevel
is LIGHT
(which is always the if their UserCategory
is PAYER
):
KYC/KYB limits | Payouts | User balance | Applicable to user categories |
---|---|---|---|
Description (see below for more details) | Maximum cumulated payout amount (all wallets) | Maximum user balance (all wallets) before payouts and transfers out are blocked | |
PS (EEA) | €0 (meaning payouts not allowed unless KC/KYB verified) | Not applied | PAYER and OWNER |
EMS (EEA and UK) | €150 per calendar month (€100 in Germany) | €150 (€100 in Germany) | OWNER only |
Note on currency
Funds are expressed on this page in EUR for simplicity. For processing in other currencies, the equivalent amount is taken into consideration (based on a rate applied by Mangopay).
The rules apply to all amounts regardless of currency, meaning that a user is limited for all currencies combined.
Note on Germany
For EU EMS platforms registered in Germany, the amount of both payouts and user balance limits is €100 rather than €150.
Description of limits
Payouts
Services used | Payout limit description |
---|---|
PS (EEA only) | A user cannot request a payout for any amount unless they are KYC/KYB verified and their |
EMS (EEA or UK) | If So if the user makes 3 payouts of €50 each on the 5th, 12th and 24th of the month, the next payout amount available to them would be €50 from the 5th of the next month, €100 from the 12th, or €150 from the 24th. As shown in the example above, the calendar month is a rolling month from the date of the first month to the corresponding date of the next month. If the date does not exist in the next month (e.g. the 30 February) then the last date of the month is used. Also as shown in the example above, the monthly period applies to the cumulated payout amount, meaning that all amounts paid out require the month to elapse before the user is free to pay them out again. |
User balance
Services used | User balance limit description |
---|---|
PS (EEA only) | Not applicable: there are no limits relating to the amount of funds that can be accumulated in user wallets. |
EMS (EEA or UK) | If Once the user reaches this threshold, the user must undergo KYC/KYB verification to obtain the The user can continue to accumulate more than €150* in their wallets, but they are unable to exit the funds without KYC/KYB verification. |
* €100 if the platform is based in Germany